Advocacy

In its submission to the ASX's consultation on the draft 5th edition of the Principles, ACSI recommends adopting a 40/40/20 measurable objective for board gender balance, rather than retaining the current objective of at least 30% women directors.

Functioning markets require appropriate transparency and quality auditing that ultimately supports investor confidence. Investors rely on accuracy and integrity in company reporting, to support sustainable returns to their beneficiaries.

ACSI welcomes ASX’s response to its public consultation on shareholder approval of dilutive acquisitions and changes in admission status, and the release of its exposure draft of ASX Listing Rule amendments.

ACSI supports the current combination of legislation and principles-based recommendations that provide a framework for whistleblowing.

As representatives of large Australian and international asset owners, who are significant investors in international markets, ACSI see's strength in a market which encourages good governance and investor protections that ultimately support long-term shareholder returns.

Merging the AASB, AUASB, and FRC, into External Reporting Australia (ERA) is welcome and a pragmatic approach to supporting efficiency across the standard setting bodies.